Most Important Article For A While.

[apom]

http://www.theregister.co.uk/2006/04/25/vat_fraud_figures/

Government blames a huge rise in fraud.

not a reduction of spending

The more perceptive amongst us might ask the government to refrain from pis**ng up our backs and telling us that it is raining.

for this was a figure they could not manipulate.

They still had to lie.............

just numbers one for 2004 and one for 2005.

But fraud? that was weak...

Watch as some buy it...

there has always been fraud.

Edited April 27, 2006 by apom

[OnlyMe]

Nu Economy.

One where the black market thrives.

One where fraudsters have such a free hand that it starts to break down the existing economy.

One where money is being shovelled offshore, into back pockets whilst existing businesses fold.

Whatever it is, when VAT receipts fall whilst money supply is still being pumped to high heaven it is an indication that something is SERIOUSLY remiss.

The warning signs were all there, all of them ignored.

[SarahBell]

There some really big vat scams talked about elsewhere though too - people setting up companies to extract vat from the uk.